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S.E.C. Is Said to Seek to Bar Wall St. Financier

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posted on Jun, 2 2010 @ 08:52 AM
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S.E.C. Is Said to Seek to Bar Wall St. Financier


www.nytimes.com

As it investigates a suspected kickback scheme in New York’s pension system, the Securities and Exchange Commission has been pushing to bar Steven L. Rattner, a prominent financier and former adviser to the Obama administration on the auto industry, from working in the securities industry for up to three years, according to three people told of the discussions.
(visit the link for the full news article)




posted on Jun, 2 2010 @ 08:52 AM
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Perhaps destined to be lost among the news of escalating world tension and eco-disasters, this piece caught my eye.

You see, the revolving door of the supranational banking cartel's gamesters wandering in and out of our halls of power has been afforded a cursory glance by the S.E.C. (under the spotlight of scrutiny) and it has realized that something has to be done about the regulators FROM the industry continually appointed and reappointed to positions which their masters can then abuse.


But Mr. Rattner has fiercely resisted the proposed penalty, setting up a face-off with the federal government, according to these people, who spoke on the condition of anonymity because the negotiations are intended to be confidential.

It would be the most severe penalty for any of the Wall Street executives ensnared in the wide-ranging pension investigation, and it would carry a significant stigma for Mr. Rattner, whose rise in high finance catapulted him to the top of New York’s social and political hierarchy.


BOLD is mine

THAT's the REAL news.... his meteoric rise to fame and glory is hampered by this 'offense' (this "most severe penalty") against his comings and goings to and from public service.

He will be "stigmatized". Or so the NY times wants the world to believe.

But the stigma cast upon the American nation is less important, since the debt slaves can pay off their debt, and if not them - their children - or THEIR children.

Mr. Rattner is a representative of the "Steal from THEIR future to pay for our PRESENT" school of thought... I hope someone see's this 'save our financial hero' crap for what it is.


Mr. Rattner’s former firm, Quadrangle Group, paid $12 million in fines to settle with state and federal officials in April, but Mr. Rattner was left out of that agreement because he would not accept the S.E.C.’s proposal that he be barred from working on Wall Street, people briefed on the case said.

Now, the S.E.C. must decide whether to pursue separate civil charges against Mr. Rattner or drop the case altogether.

The attorney’s general’s office is not involved in the S.E.C. talks: Mr. Rattner was granted immunity from criminal action by Mr. Cuomo’s office in return for his testimony before a grand jury, said a person briefed on the matter. That deal has complicated Mr. Cuomo’s case against Mr. Rattner.


I bet Rattner offered up some rival for sacrifice, and now thinks the world can go back to the way it was.....

His firm (not him) "settled" for $12 million.... the questions is HOW MUCH DID THEY STEAL, or facilitate STEALING?

Some jerk robs a liquor store and goes to prison for 10 years... these guys can settle - with no admission of wrongdoing....

Are we 'there' yet? Or do I still have to HOPE for a CHANGE in the way the rip-off machinery works?

www.nytimes.com
(visit the link for the full news article)

[edit on 2-6-2010 by Maxmars]



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